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Maintenance charge on flat held as an investment.

This query is : Resolved 
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(Querist)
01 August 2012 DEAR ALL

PLEASE SUGGEST ME ABOUT ACCOUNTING TREATMENT OF MAINTENANCE CHARGE ON FLAT HELD A AN INVESTMENT. CAN WE CAPITALISE OR SHOWN AS EXPENSE IN P/L?
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Naresh Kansala

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Naresh Kansala (Expert)
01 August 2012 no tax treatment for cost of repair/improvement now but when u'll sell the flat u can claim these expenses as cost of improvement while calculating the capital gain.
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Ankit Kr. Sharma

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Ankit Kr. Sharma (Querist)
03 August 2012 What is the Accounting treatment for this. can we show this expenses in p/l and calculate deferred tax or can we capitalize this expeniture.
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Naresh Kansala

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Naresh Kansala (Expert)
03 August 2012 they are t/fed to p&l account only if flat is used for business purposes but here u bought it for sake off investment so improvement charges should be capitalized.
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